Last night, the Federal Government handed down its Budget for the 2019/20 financial year. This is the first Budget delivered by Treasurer Josh Frydenberg and will be the final Budget before the next Federal Election. With tax cuts for individuals, immediate tax relief for low to medium income earners, advantages for those heading into retirement, and benefits for small and medium businesses - this budget seems to have something for everyone. It’s important to remember that these are only proposals at this stage, and each proposal will only become law once it’s passed by Parliament. Additionally, if there is a change of Government at the Federal Election, these proposals may be changed or removed from the next and subsequent Budgets. Verve Group has put together a Federal Budget Overview to identify the key areas you need to know that could impact your financial well-being.
Do you need assistance in managing your finances in line with the Federal Budget?